$35 million worth of record Ether burn in the last 24 hours of 9 September

Large volume of Ethereum burn took place in recent days and it shows that Ethereum is trying to fit with the demand of Ethereum lovers. 

As we know, the London upgrade in Ethereum, changes the fee structure of Ethereum Network. Now every transaction fee is burning after the EIP-1559 update. 

According to the available records, $35 million worth of Ethereum token has been burned in 24 hours of 9 September. And it is itself a big record of Ethereum burn in one day. 

This is a clear indication that Ethereum users are active and doing huge transactions. 

Records also show that, Ethereum network added more than 6.2 million Ethereum addresses which holds 0.01 ETH to 1 ETH, in this year of 2021. 

Earlier the EIP-1559 update, many experts  claimed that there are chances that Ethereum will have deflationary blocks on the network at the end of this year. But the expected situation arises before time. As we know, the end of this year is still 3.5 months away. And there are huge chances that this will give big results and possibly give a deflationary day every day. 

Deflationary Days, means generation of new coin in less volume over burning the coins in transaction fees. 

At the present time, the price of Ethereum is $3,4000 and it has dropped by 15% in this market crash situation. But data clearly shows that price holders of Ethereum are definite with their decision to hold Ethereum and they didn’t move their Ether to the exchanges.

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